Here is a simple chart showing the route that I think OMG/ETH will take in the next two weeks. The ATH for this pair is around 0.045 and I think we're seeing a parabolic move back to those levels (and beyond). I believe the value of the OMG project was priced into the initial climb to ATHs back in August and September 2017. After a large correction back to ~0.011, the project's vision is coming to fruition and we're getting very close to a functioning DEX, POS validation, and the recently announced "hard spoon" with the Cosmos network. I've decided to stick to the actual announcements that have been made, and not price in some of the rumors that have been floating around. If even one of the rumors that are floating around reddit and telegram happen to be true, go ahead and disregard this chart ( because a Coinbase addition would make any coin triple in value ;D ).
There are several key resistances on the daily chart where I think we'll see brief consolidation, but I'm very confident that at least a few of the daily candles will resemble those on the initial climbs back in August. If you're curious, the single largest increase in price of OMG/ETH in a single day was on August 10, 2017, where the ratio rose from 0.0115 to 0.02 (~73%).
To put this into perspective, on April 14 we opened at 0.0238 and the daily high reached 0.0375 (~57%). The buying pressure is building and we're starting to see an increase in trading volumes on the daily as well. It's only a matter of time.
I published my swing trade setup for this pair last week and it's turned out to be very profitable. We still have at least another 50% to climb from where we are now, and I believe its going to happen in a hurry. Of course this is crypto and anything could happen, so these wild ideas I have are for entertainment purposes only.
- Peace -
There are several key resistances on the daily chart where I think we'll see brief consolidation, but I'm very confident that at least a few of the daily candles will resemble those on the initial climbs back in August. If you're curious, the single largest increase in price of OMG/ETH in a single day was on August 10, 2017, where the ratio rose from 0.0115 to 0.02 (~73%).
To put this into perspective, on April 14 we opened at 0.0238 and the daily high reached 0.0375 (~57%). The buying pressure is building and we're starting to see an increase in trading volumes on the daily as well. It's only a matter of time.
I published my swing trade setup for this pair last week and it's turned out to be very profitable. We still have at least another 50% to climb from where we are now, and I believe its going to happen in a hurry. Of course this is crypto and anything could happen, so these wild ideas I have are for entertainment purposes only.
- Peace -
Comment:
And here is the zoomed out big picture view for the lifetime of OMG/ETH.
